Gannett Co., Inc. (GCI) Rating Increased to Hold at Zacks Investment Research
Gannett Co., Inc. (NYSE:GCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets. “
A number of other equities analysts have also recently weighed in on GCI. BidaskClub cut Gannett Co. from a “buy” rating to a “hold” rating in a report on Monday. TheStreet raised Gannett Co. from a “d” rating to a “c-” rating in a report on Friday, June 23rd. ValuEngine cut Gannett Co. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Noble Financial reissued a “buy” rating on shares of Gannett Co. in a report on Sunday, May 14th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $16.00.
Shares of Gannett Co. (NYSE GCI) traded down 3.56% during mid-day trading on Tuesday, hitting $8.68. The company’s stock had a trading volume of 1,049,924 shares. The stock has a 50-day moving average of $8.76 and a 200-day moving average of $8.55. The company has a market cap of $986.35 million, a PE ratio of 95.38 and a beta of 0.58. Gannett Co. has a 12-month low of $7.30 and a 12-month high of $12.39.
Gannett Co. (NYSE:GCI) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.01. Gannett Co. had a positive return on equity of 11.30% and a negative net margin of 0.07%. The company had revenue of $774.50 million during the quarter, compared to analyst estimates of $783.06 million. During the same period last year, the firm earned $0.30 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that Gannett Co. will post $0.99 EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. raised its position in Gannett Co. by 87.7% in the first quarter. First Manhattan Co. now owns 11,162 shares of the company’s stock valued at $129,000 after buying an additional 5,216 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Gannett Co. during the first quarter valued at approximately $105,000. TCI Wealth Advisors Inc. raised its position in Gannett Co. by 130.2% in the first quarter. TCI Wealth Advisors Inc. now owns 12,566 shares of the company’s stock valued at $105,000 after buying an additional 7,108 shares during the last quarter. Bank of Montreal Can raised its position in Gannett Co. by 0.7% in the second quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock valued at $110,000 after buying an additional 89 shares during the last quarter. Finally, BB&T Securities LLC acquired a new position in Gannett Co. during the second quarter valued at approximately $129,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.
Gannett Co. Company Profile
Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.
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